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Sega Nerds

Financial fallout: Plans for Yokohama amusement park canceled

by Chris on March 28th, 2008

Despite things looking on the up and up for Sega Sammy in recent weeks, the impact from the nearly 16 billion yen loss detailed in the somewhat recent financial earnings report is still lingering. Sega Sammy has just announced that it has canceled plans to open a new amusement center in Yokohama, Japan.

While the plans called for Sega Sammy to purchase 41,000 square meters of land, the company has already spent about $220 million in buying portions of the property. According to Bloomberg, Sega is now investigating what financial impact this move will make on its yearly earnings thus far.

Perhaps Sega Sammy can sell the land again, or maybe it can open acres of pachinko centers. We hear they’re all the rage in Japan nowadays.

Tags: SEGASammy

develin
Mar 28, 2008 at 4:20 am

Actually lack of interest in Pachinko is the reason why the Sammy side suffers badly at the moment.
Ryan
Mar 28, 2008 at 8:01 am

Sammy wastes more money what a fucking suprise!

Sell that land buy Obsidian and Gearbox and put a bid in for TakeTwo… That is what Sammy should be doing not trying to revive a dead market.
JamesC
Mar 28, 2008 at 9:29 am

Yokohama is the best city I’ve ever been to. Keep in mind that there are tons of SEGA amusement facilities everywhere in Tokyo. So no big deal if you’re in Japan and want to see/play at one.
ROJM
Mar 28, 2008 at 3:57 pm

Well the arcade scebe in japan isn’t dead but i agre with you Ryan, What’s the point in building yet another arcade complex in a city full of them which are all sega owned anyway. What they should have done was close down half of these arcade stores and then focus on this new complex. But Sega needs the money more for its home divisions especialy for the west, the divison of sega whose bringing in the cash since 2003 making their profit losses less of an ouch than it would have ben if they were just focusing on arcades, something that Hajime satomi wanted sega to do initially when he took the company over. Thank god that never happened though.